Loading ...COMEX & LBMA – Endgame
Many analysts and YouTubers have been using the term “endgame” for months, if not longer. This is the FIRST time I have actually used that term, since even though I have discussed the fact that those exchanges days were numbered, I never felt it was going to happen in less than a few weeks or months, before now. I expect it to happen in hours or days! I had believed that the two pronged smash in late January and early February would be enough for the remaining bullion bank shorts to cover their short positions. I was wrong and we have seen that the exchanges, the banks and the government, combined to have one last take down to allow the shorts to cover and go long. That has occurred and is now in the rear view mirror. It is anyone’s guess, how fast and how high, Gold & Silver will go in the next two months when all hell breaks loose. I expect new ATH’s in both, before the US celebrates it’s 250th birthday on July 4th.
BAD ASS PREDICTION LOVE IT !
I don’t see this latest decline as a typical CB take down to rescue the shorts. That’s not how it traded. Recall how those takedowns always kick off on large volume at the time of least trading and result in the fishing line drop we have come to dread over the past 20+ years.
This one didn’t sell off that way. It was steady liquidation reflecting the actual liquidation going on in the gold markets due to the war of countries such as the UAE.
This is a nice bounce, I bought heavily late Friday afternoon. It was a no brainer, although it was still scary. Anytime in a bull market you see RSI lower than 30 and stocks outside the lower BB for 2-3 days you know an upside reversal is imminent. That’s what we are getting. But I don’t think its over because we are in some form of a liquidity crisis and institutions and governments are not selling what they want to sell, they are selling what they can and that’s gold.
The bright side is that it won’t last forever and the fundamentals are just getting better. Running a $3 Trillion deficit then putting a high-tech war on your credit card!